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Banks Loans adjustments after rates drop
osa2
#1 Posted : Monday, July 27, 2020 5:40:23 AM
Rank: New-farer


Joined: 2/5/2010
Posts: 52
Location: USA
How do banks adjust loan installments after rates drop?

Example:
In June 2017 rates were 14% (CBR*10.00% + variable margin of 4%).

In June 2020 rates were 11% (CBR*7.00% + variable margin of 4%).

If someone was paying an installment of 100K/month in 2017, does the bank adjust (reduce)installment in 2020, or installments are flat?
mozenrat
#2 Posted : Monday, July 27, 2020 6:37:44 AM
Rank: Veteran


Joined: 5/18/2008
Posts: 792
Each bank chooses what to do.. some write and ask you to choose either to reduce your installments or reduce your payment period.

However, wasn’t the CBR + 4 law quashed by parliament? The banks no longer have to enforce it.
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